Neptune's SpaceX Investment Commences Trading on NASDAQ
Rhea-AI Summary
Neptune Digital Assets (OTCQB: NPPTF) updated investors on its SpaceX stake following SpaceX’s IPO. Neptune expects to hold about 163,000 SpaceX shares after converting its xAI investment. At the IPO price of US$135, this implies gross value of roughly US$22 million (CAD$31 million), versus an average acquisition cost near US$20 per share, all before fees, taxes and distribution adjustments.
SpaceX shares received pre‑IPO are expected to face lock-up and staged release provisions. Neptune plans to be a long-term shareholder and will update the market on distribution timing and mechanics when available.
Positive
- Expected holding of approximately 163,000 SpaceX shares
- Implied gross SpaceX position value of about US$22 million (CAD$31 million)
- Average acquisition cost near US$20 per SpaceX share before adjustments
- SpaceX exposure enhanced through conversion of xAI investment
- Company signals intention to remain a long-term SpaceX shareholder
Negative
- Pre-IPO SpaceX shares subject to lock-up and staged release restrictions
- Gross value figures exclude fees, carried interest, expenses and taxes
- Distribution timing and mechanics for SpaceX shares to Neptune investors remain uncertain
News Market Reaction – NPPTF
On the day this news was published, NPPTF declined 17.20%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Vancouver, British Columbia--(Newsfile Corp. - June 12, 2026) - Neptune Digital Assets Corp. (TSXV: NDA) (OTCQB: NPPTF) (FSE: 1NW) ("Neptune" or the "Company"), a blockchain infrastructure and frontier technology company, is pleased to provide an update regarding its investment in SpaceX following SpaceX's successful initial public offering.
Neptune expects to hold approximately 163,000 shares of SpaceX following the completion of the previously announced conversion of its xAI investment into SpaceX shares and prior to the associated distribution process. Neptune's average acquisition cost is approximately US
Based on SpaceX's initial public offering price of US
"The most valuable companies are those that lay the foundation for entirely new industries. At Neptune, we continue to seek out businesses and assets that are strategic, enduring and which become ever more difficult to replicate," said Cale Moodie, CEO of Neptune. "SpaceX has invested over two decades in forging world-class launch infrastructure, unparalleled engineering capabilities, and a transformative global satellite network, creating a formidable competitive moat. As the demands of AI, data, and global connectivity accelerate, we believe these assets will only grow in strategic importance and long-term value."
Neptune first gained exposure to SpaceX through investments completed between 2022 and 2025. The Company's position was further enhanced through its investment in xAI, which was subsequently converted into SpaceX shares pursuant to the previously announced transaction between the two companies.
As disclosed in SpaceX's registration statement, shares distributed to investors pre-IPO are expected to be subject to lock-up restrictions and staged release provisions. Neptune currently intends to remain a long-term shareholder and will continue to evaluate its investment strategy in the context of market conditions, liquidity requirements, and opportunities to maximize shareholder value.
The Company believes SpaceX remains uniquely positioned at the intersection of space exploration, satellite communications, launch services, defense technology, and advanced manufacturing. Through businesses including Starlink and its launch operations, SpaceX has become one of the most important technology platforms globally.
Neptune will provide additional updates regarding the timing and mechanics of share distributions as information becomes available.
Additional information regarding Neptune Digital Assets is available at www.neptunedigitalassets.com.
About Neptune Digital Assets
Neptune Digital Assets Corp. (TSXV: NDA) (OTCQB: NPPTF) (FSE: 1NW) is one of the first publicly traded blockchain companies in Canada and is focused on staking, blockchain nodes, decentralized finance (DeFi), and related technologies. The Company also maintains selective positions in frontier technologies and digital infrastructure platforms aligned with its long-term strategy. For more information about Neptune Digital Assets, please visit our website at www.neptunedigitalassets.com or follow us on X (@NeptuneDAC).
ON BEHALF OF THE BOARD
Cale Moodie, President and CEO
Neptune Digital Assets Corp.
1-800-545-0941
www.neptunedigitalassets.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This release contains certain "forward looking statements" and certain "forward-looking information" as defined under applicable Canadian securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans", "proposes" or similar terminology. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause the Company's actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: the execution of the Company's investment in SpaceX; the inherent risks involved in the cryptocurrency and general securities markets; the Company may not be able to profitably liquidate its current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on the Company's operations; the volatility of digital currency prices; uncertainties relating to the availability and costs of financing needed in the future; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, currency fluctuations; regulatory restrictions, liability, competition, loss of key employees and other related risks and uncertainties.
The Company does not undertake any obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/301254